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OCR A-level Economics

Component 2: Macroeconomics

The Ceteris modules for OCR A-level economics, Macroeconomics, listed under each specification section. Each module teaches one idea, with questions through the page.

Macro 1.1 Circular flow of income

What GDP measuresSay what GDP counts and what it leaves outConcept · 7 minThe circular flow of incomeFollow a pound round the circular flow and name each leakHow it works · 7 min

Macro 1.2 Aggregate demand

Aggregate demandSay what aggregate demand is and name its four partsConcept · 7 min

Macro 1.3 Aggregate supply

Short-run and long-run aggregate supplyTell short-run aggregate supply from long-runTell them apart · 6 min

Macro 1.5 The multiplier and the accelerator

The multiplierWork out a multiplier and apply it to an injectionCalculation · 7 min

Macro 2.1 Economic growth

Nominal and real numbersTell a nominal figure from a real oneConcept · 6 min · FreeConverting a nominal figure to a real oneConvert a nominal figure into a real oneCalculation · 6 minWhat economic growth is, and what it is notTell growth from a recovery, and real growth from nominalConcept · 7 min

Macro 2.2 Development

What GDP measuresSay what GDP counts and what it leaves outConcept · 7 minMeasuring developmentWork out an HDI-style measure and say what it adds to GDPCalculation · 7 min

Macro 2.3 Employment

Measuring unemploymentSay who counts as unemployed and who does notConcept · 7 minTypes of unemploymentSort a case of unemployment into its typeTell them apart · 8 min

Macro 2.4 Inflation

Nominal and real numbersTell a nominal figure from a real oneConcept · 6 min · FreeConverting a nominal figure to a real oneConvert a nominal figure into a real oneCalculation · 6 minMeasuring inflation with a price indexBuild a price index and work out an inflation rate from itCalculation · 7 minDemand-pull and cost-push inflationTell demand-pull inflation from cost-pushTell them apart · 6 min

Macro 2.5 Balance of payments

The balance of paymentsSay what the current account records and what a deficit meansConcept · 8 min

Macro 2.7 Income distribution and welfare

Absolute and relative povertyTell absolute poverty from relative povertyTell them apart · 6 minThe Lorenz curve and the Gini coefficientRead inequality off a Lorenz curve and say what a Gini number meansCalculation · 7 min

Macro 3.1 Fiscal policy

Fiscal policySay what fiscal policy is and which way each tool pullsConcept · 6 minAutomatic stabilisersSay what an automatic stabiliser is and name twoConcept · 6 minThe budget deficit and the national debtTell a deficit from a debt, and cyclical from structuralConcept · 8 min

Macro 3.2 Monetary policy

Monetary policySay what monetary policy is and who sets itConcept · 7 minThe transmission mechanismFollow an interest-rate change through to inflationHow it works · 6 min

Macro 3.3 Supply side policy

Supply-side policyTell a market-based supply-side policy from an interventionist oneTell them apart · 6 min

Macro 3.4 Policy conflicts

Do macro objectives conflict?Weigh the conflicts between growth, inflation and the balance of paymentsDebate · 7 min

Macro 4.1 International trade

Why countries tradeExplain how both countries gain from specialising and tradingHow it works · 7 min

Macro 4.2 Exchange rates

Floating and fixed exchange ratesTell a floating exchange rate from a fixed oneTell them apart · 6 minHow a weaker currency reaches a shop priceFollow a fall in the exchange rate through to what a shopper paysHow it works · 6 min

Macro 4.3 Globalisation

Absolute and comparative advantageWork out which country has the comparative advantageCalculation · 7 min · FreeWhy countries tradeExplain how both countries gain from specialising and tradingHow it works · 7 minIs globalisation good for developing economies?Weigh the case each way on globalisation and developmentDebate · 8 min

Macro 4.4 Trade policies and negotiations

TariffsShow what a tariff does to price, quantity and welfareDiagram · 7 minQuotas and non-tariff barriersTell a tariff from a quota and the other non-tariff barriersTell them apart · 6 minTrade blocs and the WTOTell the stages of economic integration apartConcept · 7 min

Macro 5.1 Money and interest rates

What money is forName the functions of money and tell money from wealthConcept · 7 min · FreeHow banks create moneyExplain how one deposit becomes more money in the banking systemHow it works · 7 min

Macro 5.3 Financial regulation

Was financial regulation after 2008 worth it?Weigh the case each way on tighter bank regulationDebate · 7 min